- Greg Hands MP has welcomed this month’s uprating of the state pension by £900 a year, helping pensioners in Chelsea & Fulham with the cost of living.
- By sticking to the plan to halve inflation and strengthen the economy, the Conservative Government have been able to honour the Triple Lock on state pensions – uprating the basic state pension by 8.5% from 8 April 2024 – a £900 annual boost.
- This protects pensioners incomes and shows the Conservatives will stick to the plan to honour the pensions Triple Lock, ensuring dignity and respect in retirement for millions of pensioners.
Greg Hands MP has welcomed the Conservative Government’s honouring of the Triple Lock, boosting the state pension by £900 a year for 17,007 pensioners in Kensington and Chelsea, and 17,252 pensioners in Hammersmith and Fulham.
By sticking to the plan, and more than halving inflation from 11.1% to 3.4%, the Conservatives have been able to uprate pensions by 8.5% for people across Chelsea & Fulham. This follows a record 10.1% increase in 2023-24.
Since the Conservatives came to power in 2010, and introduced the Triple Lock, the state pension has increased by over £3,700, helping to lift 200,000 pensioners out of poverty and ensuring pensioners have dignity and respect in old age.
The uprating of the state pension is in addition to further support pensioners receive such as Winter Fuel Payments and Cold Weather Payments to support with energy bills.
The Conservatives have also confirmed the Triple Lock will be in their upcoming manifesto, unlike the Labour Party who cannot say what they would do with pensions – causing uncertainty for millions of pensioners.
Commenting, Greg Hands MP said:
“The Conservatives introduced the Triple Lock in 2011 to ensure pensioners receive dignity and respect in old age – it has helped lift 200,000 pensioners out of poverty and assures peace of mind for millions of pensioners.
That is why I am delighted the Conservative Government will boost the state pension by £900 this year, increasing the income of 17,007 pensioners in Kensington and Chelsea, and 17,252 pensioners in Hammersmith and Fulham.
This will ensure pensioners’ incomes are protected as the Conservatives stick to the plan and strengthen the economy, helping to secure a brighter future for pensioners and families across the country.”
Commenting, Chancellor of the Exchequer, Jeremy Hunt MP said:
“Because we stuck to the plan, the economy has turned a corner – inflation has fallen from 11.1% to 3.4%, wages are rising, mortgage rates are starting to come down and debt is on track to fall as a share of the economy.
That is why this April we are cutting the double tax on work, putting £900 back in the pockets of the average worker, freezing business rates, boosting pensions, cutting the cost of childcare and delivering a record increase to the National Living Wage.
By sticking to the plan, the Conservatives will deliver a stronger economy to build a brighter future. Labour cannot say what they would do with the economy because they do not have a plan – they would take us back to square one.”
ENDS
